Crypto Casinos – A Complete Guide

How Do Crypto Casinos Work?

Crypto casinos are an exciting online gambling trend with huge future potential. They present promising solutions to a multitude of difficulties that casino players in many countries face when attempting to play safely online.

Cryptocurrencies provide an independent payment solution for casino players on a global scale. With no institutions watching over our transactions, we can transact without intermediaries which reduces fees to a minimum. Our transactions are almost completely anonymous.

Crypto Casinos are casinos that support cryptocurrency (crypto) as a method of payment. There are two types of crypto casinos:

1. Pure Crypto Casinos: these crypto-only online casinos only accept cryptocurrency as a method of payment.
2. Hybrid Crypto Casinos: casinos that accept cryptocurrency as well as other payment methods such as debit cards, credit cards, wire transfers, e-wallets, and prepaid payments.

Before you can deposit at a crypto casino, you need to have cryptocurrency in your digital wallet. If you don’t have a wallet yet, you can shop around for a wallet that best suits your needs. Popular crypto wallets are Blockchain, Coinjar, and SpareCoins – but there are many others.

Once you have a wallet, you need to purchase some cryptocurrency to keep in it and spend online. The most well-known cryptocurrencies in online gambling circles are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), and Dogecoin (DOG). So you’ll want to get a wallet that supports these cryptos. Signing up for most wallets is free and only takes a few seconds.

When you’re ready to deposit at the casino, you can select the cryptocurrency that you want to deposit with. You’ll be given a depositing address, or public key, that you’ll use to complete your crypto deposit at the online casino.

You should keep a copy of the depositing address in a safe place so you can easily refer back to it whenever you need to. However, the casino will supply you with it each time you want to complete a deposit in any case.

To complete your deposit, enter the depositing address and the amount you want to deposit into your crypto wallet account and click the ‘Enter’ or ‘Send’ button. It may take a few minutes for the transaction to be processed and for your casino balance to be topped up.

So you see, the whole process is very similar to using a regular e-wallet to top up your casino account with fiat currency:

• You need an online wallet where you can keep your cryptocurrency
• You must have a positive cryptocurrency balance in your wallet before you can deposit at the casino
• Go to the deposit area of the casino and follow the prompts
• You complete your deposit by confirming the transaction in your crypto wallet

Is it Safe to Play at Crypto Casinos?

The fact that cryptocurrencies are decentralised scares some people away from the get-go. There’s no central point that checks or approves your payments. However, it’s exactly this feature that makes crypto casinos so appealing to other players. It also makes crypto casinos very accessible to online gamblers on a global scale.

Here’s some information that will put your mind at ease: all crypto transactions are protected by your own, private key. Playing with crypto is actually more secure than any other payment method. Additionally, licensed crypto casinos encrypt all their payment transactions as well as all your personal data.

Licensed casinos are under the watch of the gambling authorities that issue their licences, regardless of the payment methods they support. Whether you play at a regular online casino, crypto casino, or hybrid casino, as long as it is licensed by a reputable authority, your transactions are safe.

Licensing also ensures the fairness of the games. All the games at licensed casinos are frequently tested by independent third parties, or testing agencies, to confirm that the games are random, fair, and that they payout according to their advertised payout rates.

As we mentioned, the casinos recommended on this site are fully licensed online gambling platforms. If you’re going on your own search for a gambling platform, be sure to play at sites with VALID licences issued by trustworthy authorities such as:

• The Malta Gaming Authority (MGA)
• The United Kingdom Gambling Commission (UKGC)
• The Kahnawake Gaming Commission (KGC)
• The Alderney Gambling Control Commission (AGCC)
• The Directorate of Offshore Gaming in Antigua and Barbuda
• The Gibraltar Regulatory Authority (GRA)